Paris PFS proves positive
PERTH (miningweekly.com) – A prefeasibility study (PFS) into the Paris silver project, in South Australia, estimates that the project will require a capital investment of A$131-million.
ASX-listed Investigator Resources on Tuesday told shareholders that the project could produce 26.7-million to 29-million ounces of silver dore, over a mine life of between five and seven years, generating gross revenues of between A$969-million and A$1.1-billion.
The PFS estimated a pre-tax net present value of between A$202-million and A$245-million, based on a silver price ranging between A$34.30/oz and A$38/oz, and an internal rate of return of between 54.1% and 47.9%.
“The finalization of the Paris silver project PFS marks a substantial step forward towards a project development decision,” said Investigator MD Andrew McIlwain.
“This comprehensive package of work, completed by the Investigator team that started with the resource drilling in September 2020, brings together all the makings of a feasible project, based on the recovery of silver alone. While there is more work to be done to complete a definitive feasibility study, we have demonstrated that in the current economic environment, Paris is a technologically sound and financially robust project, with the potential for significant uplift if we can introduce a lead recovery circuit into the equation as well.”
McIlwain noted that on a silver-only basis, Paris would deliver a strong internal rate of return and net present value.
“With our current market capitalisation of around A$100-million, we consider Paris financeable and value-adding for Investigator shareholders.”
The company will now move to progress the feasibility study of the Paris project, and will start financing and approvals workstreams.
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